Wednesday, September 13, 2023–6:24 p.m.
-David Crowder, WRGA News-
The Rome City School Board has voted unanimously to approve an agreement with the City of Rome for the issuance of up to $120 million in bonds for the construction of a new middle school.
The action taken by the school board was similar to that taken by the Rome City Commission Monday, by a 5-4 vote, ratifying a decision by the building authority, which is made up of the mayor, the city manager, and the school superintendent.
$54 million was included for a new middle school in the special purpose local option sales tax for education approved by voters last year.
It is estimated it could take three additional ELOSTs to pay back the bonds.
“In that agreement, the school system is agreeing to pay the city from those ELOST collections in the amounts necessary for the city to service the debt,” said Rome City School Board Attorney Chris Twyman.
The next step is to petition Floyd Superior Court to validate the bonds. After the bonds are validated and priced a supplemental bond resolution will go to the Rome City Commission for final approval on October 23.